Global Wind Turbine Rotor Blade Market

Global Wind Turbine Rotor Blade Market to Reach US$ 33 Bn by 2025
The global wind turbine rotor blade market is expected to surpass US$ 7 Bn in revenues by 2017end. The market is anticipated to grow at a CAGR of 21.2% during the period 2017-2025 and reach
nearly US$ 33 Bn in revenues.
According to Persistence Market Research (PMR), global wind energy installations have increased
from 282.2 GW in 2012 to 486.7 GW in 2016. This is positively impacting the growth of the global
wind turbine rotor blade market. Increasing emphasis on wind power generation, combined with
favorable government policies and assistance are also contributing to steady adoption of wind
turbine rotor blades. Feed-in-tariffs and generation-based incentives enticing venture capitalists to
invest in this fledgling market.
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In the Paris Climate Change Conference of the Parties (COP21), the long term target adopted by
186 countries that attended this conference is to make the power sector 100% emission free by
2050. This strengthens the position of wind energy as a major portion of renewable power will be
supplied by wind energy, along with solar energy. China and the United States are the major
producers of renewable energy. As the generation of electricity from wind creates no emissions,
wind energy will play a major role in helping the two countries meet their commitments under the
COP21 agreement. This will create a big boost in the sales of wind turbine rotor blades in the
coming years.
Generation of renewable and clean sources of energy from offshore wind is a relatively new
technology and has just taken off in many countries of the world. The rotor blades required for such
harsh offshore environments require more technological advancements in terms of design and build.
As of now, offshore wind power installations are mainly concentrated across Europe. However,
countries such as China, Japan, South Korea, India, Taiwan and the United States have approved
many offshore projects, which are under development and are expected to be operational in the near
future.
In its report, Persistence Market Research offers market forecast and analysis on North America,
Latin America, Europe, Asia Pacific, and MEA. Key companies profiled in the report include
LM Wind, Siemens, CNBM, Sinoma, and TPI Composites.
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